Thomas Pascoe worked in both the Lloyd's of London insurance market and in corporate finance before joining the Telegraph. He writes about the financial markets. His email is thomas.pascoe@telegraph.co.uk and his Twitter address is @PascoeTelegraph

Pope Francis must devote himself to fighting evil

In 1884, exactly 33 years before the Miracle of the Sun, Pope Leo XIII had a vision while on his way back from Mass. He froze for ten minutes, face contorted in worry, before hurrying into his office where he composed the prayer to St Michael the Archangel which was to be said after Mass throughout the world. What had affected him? He had heard two voices – one sweet and kindly, the other demonic and jagged. The conversation they had went like this:

Gruff: "I can destroy your Church."

Gentle: "You can? Then go ahead and do so."

Gruff: "To do so, I need more time and more power."

Gentle: "How much time? How much power?"

Gruff: "75 to 100 years, and a greater power over those who will give themselves over to my service."

Gentle: "You have the time, you will have the power. Do with them what you will."

Seventy five years later, the Second Vatican Council was convened. One of its first acts was to abolish the saying of St Michael's Prayer.

The relevance to the election of Pope Francis? Well, it is not the province of spiritual paupers to advise the princes of the Church. But we can express our hopes. It does seem to me that the world has become a significantly wickeder place since it ceased to believe in evil.

This is particularly the case within the Church. Great evils have been perpetrated by men who ought to have been serving God, not abusing trust. I hope and pray that Pope Francis completes the job begun by Pope Benedict XVI and drives these people from under the Church's roof.

Latin American Catholicism is something I have been fortunate to witness at first hand. There is a joy in worship, an absence of cynicism which is both moving and a reminder of what we have lost in allowing European Catholicism to become so entangled in the wretched physical sins of those who live for this world. I pray that Pope Francis can impart this joy to the wider communion. Having witnessed his opening address, I believe firmly that this magnetic man can do just that.

The Church, as an institution run by men, can never be spotless, but paradoxically, it must always strive to be. This is the human condition, too. This pontificate must grapple with those facts, and if it does so then the Church will once again become a great fisher of men in the cynical and lost lands of the Old World. God knows, we need it.